The Central Bank of the UAE (CBUAE), in coordination with Higher Sharia Authority (HSA), hosted a half-day workshop on June 11th, 2019 centred around Islamic finance inviting major financial stakeholders of the UAE.
The session is first of many sessions within the newly launched Executive Programme, which serves as a platform designed for sharing knowledge and expertise in areas of mutual interest and strategic importance amongst stakeholders promoting thought leadership.
CBUAE new joiners are also invited to attend these sessions allowing our young UAE nationals to participate and become aware of key subjects in the market enabling their career advancement.
The first session of the Executive Programme took place at CBUAE HQ in attendance of key officials from, Abu Dhabi Global Market (ADGM), Securities and Commodities Authority (SCA), Dubai Financial Services Authority (DFSA) and Insurance Authority (IA) with the aim of stimulating discussions on current and strategic topics.
The programme kicked off with opening remarks by H.E. Mubarak Rashed Al Mansoori, Governor of CBUAE highlighting the importance of regulating the Islamic Finance sector. The first session titled ‘The guiding principles of Islamic finance’ was hosted by His Eminence Dr. Ahmad Al Haddad, Chairman of HSA with SHK.
Dr. Aznan Hasan and Dr. Osaid Kilani, both members of HSA where they presented key insights on Islamic Finance principles and shared knowledge on Sharia’s governance.
When focusing on the Sharia governance, the topics discussed included stakeholder responsibility, HSA’s leading role in promoting transparency and consumer protection which is integral for our community and economy.
Other topics included the integration of Sharia in regulatory and legal frameworks. In addition to discussions on frameworks related to raising awareness, building capabilities at different levels and removing uncertainties in court procedures that involve Sharia-compliant transactions.
The workshop concluded with an open session, allowing participants to further exchange knowledge and expertise.